Posted at 08 May 2026 / Categories Market Roundups
Market Roundup
• US Initial Jobless Claims: 200K, 205K forecast, 190K previous.
• US Unit Labor Costs (Q1): 2.3%, 2.6% forecast, 4.6% previous.
• US Continuing Jobless Claims: 1,766K, 1,800K forecast, 1,776K previous.
• US Jobless Claims 4-Week Avg.: 203.25K, 207.75K previous.
• US Construction Spending (Feb): -0.2%, -1.9% previous.
• US Construction Spending (Mar): 0.6%, 0.3% forecast, -1.9% previous.
• US Natural Gas Storage: 63B, 72B forecast, 79B previous.
• US NY Fed 1-Year Consumer Inflation Expectations (Apr): 3.6%, 3.4% previous.
• Japan Overall wage income of employees (Mar)2.7% , 3.2% forecast, 3.4% previous
• Japan Overtime Pay (YoY) (Mar) 1.90%,3.40% previous
• Japan S&P Global Services PMI (Apr)51.0, 51.2 forecast, 53.4 previous
• Japan Manufacturing & Services PMI (Apr) 52.20, 52.40 forecast, 53.00 previous
Looking Ahead Economic Data (GMT)
• No Data Ahead
Looking Ahead Events And Other Releases (GMT)
• No Events Ahead
Currency Forecast
EUR/USD : The euro steadied against dollar on Thursday as investors weighed hopes for a de-escalation in the Iran war.The United States and Iran are edging toward a limited and temporary agreement to halt their war, according to sources and officials, with a draft framework that would stop the fighting but leave the most contentious issues unresolved.Hopes of a deal between the two ?countries have buoyed global stock and bond markets since Wednesday, though sentiment took a knock on Thursday after the Wall Street Journal ?reported that Iran would not accept what it called an "unrealistic" American plan to reopen the Strait of Hormuz. About a fifth of the world’s oil and liquefied natural gas ordinarily passes through the Strait of Hormuz. Immediate resistance can be seen at 1.1734(SMA 20), an upside break can trigger rise towards 1.1790(50%fib).On the downside, immediate support is seen at 1.1661(61.8%fib), a break below could take the pair towards 1.1642(Lower BB).
GBP/USD: The sterling eased against the dollar on Thursdayas investors kept a wary eye on British local elections .UK elections see millions voting, with Keir Starmer facing a potential setback as Labour Party braces for losses.UK elections for nearly 5,000 council seats could weaken the two-party system if voters turn to populist and nationalist parties.. Polls suggest Nigel Farage’s Reform UK could expand its council control in England and emerge as a key opposition force in Scotland and Wales against Scottish National Party and Plaid Cymru.Election losses could intensify frustration within Labour Party over Keir Starmer’s leadership, with some lawmakers potentially pushing for a timeline for his departure. Immediate resistance can be seen at 1.3583(50%fib), an upside break can trigger rise towards 1.3611(Higher BB).On the downside, immediate support is seen at 1.3530(SMA 20), a break below could take the pair towards 1.3455(61.8%fib).
USD/CAD: The Canadian dollar strengthened against its U.S. counterpart on Thursday as investors assessed prospects of a temporary U.S.-Iran truce and awaited key domestic jobs data for fresh direction.The U.S. and Iran appear close to a limited, temporary agreement to halt the war, with the emerging ?deal expected to be a short-term memorandum rather than a comprehensive peace accord.Canadian employment data, due on Friday, is expected to show the economy adding 15,000 jobs in April and the unemployment rate remaining at 6.7%.The price of oil, one of Canada's major exports, clawed back some of the previous day's sharp decline as investors weighed prospects the Strait of Hormuz would be reopened.Investors are pricing in two interest rate hikes from the Bank of Canada by December, according to swap market data.. Immediate resistance can be seen at 1.3672(SMA 20), an upside break can trigger rise towards 1.3712(50%fib).On the downside, immediate support is seen at 1.3610 (38.2%fib), a break below could take the pair towards 1.3552(Lower BB)
USD/JPY: The U.S. dollar edged higher against yen on Thursday as traders remained cautious following sharp yen volatility in the previous session.The yen recorded its fourth sudden surge in the past week, keeping market participants alert for possible intervention by Japanese authorities.Traders continue to closely monitor official comments after Japan’s top currency official stated that the IMF’s classification of the yen as a floating currency does not restrict Tokyo from taking action in the foreign exchange market if needed.Attention was also drawn to the Bank of Japan, where meeting minutes showed that several board members believe additional rate hikes may be necessary if the Iran conflict drags on and fuels inflationary pressures. Immediate resistance can be seen at 157.58(50%fib) an upside break can trigger rise towards 158.00(Psychological level) .On the downside, immediate support is seen at 155.16(Daily low) a break below could take the pair towards 153.18(61.8%fib).
Equities Recap
European shares slipped on Thursday after a steep rally in the previous session, as investors assessed progress towards a U.S.-Iran peace deal that pushed crude prices sharply lower.
UK's benchmark FTSE 100 closed down by 1.55 percent, Germany's Dax ended down by 1.02 percent, France’s CAC finished the day down by 1.17 percent.
Wall Street closed lower onThursday after the United States and Iran exchanged fire and put a ?month-long Middle East ceasefire in doubt.
Dow Jones closed down by 0.63 percent, S&P 500 closed down by 0.38 percent, Nasdaq settled down by 0.13 percent.
Commodities Recap
Gold prices rose for a third straight session on Thursday, supported by growing optimism over a potential U.S.–Iran peace agreement. The easing geopolitical tensions helped reduce concerns about inflation and the likelihood of prolonged high interest rates.
Spot gold was up 1% to $4,733.59 per ounce, as of 11.50 a.m. EDT (1550 GMT), after hitting a two-week peak earlier in the session.U.S. gold futures rose 1.1% to $4,744.00.
Brent crude fell about 1% to $100.39 a barrel, having tumbled nearly 8% on Wednesday.
Brent is still around 40% above its late-February level, when the conflict began, while 10-year Treasury yields have surged - a reminder of the strain higher energy costs continue to put on the global economy.